Bitcoin miners pivot to AI as profitability pressures mount

Bitcoin miners are shifting power capacity to AI infrastructure as mining profitability faces pressure. The market for Bitcoin reaching $100,000 by December 31, 2026, sits at 36.5% YES, up from 31% yesterday.

Market reaction

The Bitcoin reaching $100,000 market gained 5.5 points in the last 24 hours. This jump comes as miners face profitability problems: post-halving block rewards dropped to 3.125 BTC, and mining costs now exceed $70,000 per BTC. Bitcoin reaching $150,000 remains a long shot at 9.0% YES.

Real trading volume is $4,428 in USDC across these markets, meaning the actual dollars moving prices are small relative to face value. The order book depth shows it would take $8,405 to move the $100,000 price target market by five points, which points to moderate liquidity.

Why it matters

Core Scientific and Cipher are pivoting to AI workloads, using existing power contracts to secure stable leases. The transition carries costs: retrofitting facilities is expensive, and transformer shortages are a bottleneck. US data center power demand is set to rise significantly, which could squeeze miners further.

Miners are diversifying revenue, but the underlying economics of Bitcoin mining haven’t improved. At 36.5¢, a YES share pays $1 if Bitcoin hits $100,000, a nearly 2.7x return. Traders would need to believe in a specific catalyst (a dovish Fed, large-scale institutional adoption) to justify this bet.

What to watch

SEC regulatory developments and any major moves by institutional players like BlackRock or MicroStrategy. Changes in mining economics or power contract terms could also shift these markets.

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